New Cycle to Work Scheme claims to offer better deal for bike shops
Posted on in Business News , Cycles News
A new Cycle to Work Scheme that launches this week is claiming to offer partner bike shops the lowest commission fees in the industry at 4%, with an introductory offer of 3% until 31st December 2023.
gogeta’s founder Barry Scott says he is on a mission to make the Cycle to Work Scheme better for all. He wants to get more people on bikes, and to do that he believes changing the way in which the Cycle to Work Scheme is provided needs a radical re-think.
Scott says, “I ran my own bike shop in London for over 10 years and I accepted all the major Cycle to Work vouchers. I was always frustrated by the cost and complexity involved.
Bike shops add most of the value in the supply chain, but they pay the fees to the scheme providers. So the result is that we have a scheme that should be brilliant for bike shops, yet it has become something many retailers find increasingly hard to accept because it can be expensive and unprofitable.”
Scott has teamed up with Mark Brown to launch gogeta. Brown spent 11 years leading the B2B channel at Evans Cycles and has considerable experience in the development and delivery of Cycle to Work Schemes for thousands of employers.
By giving bike shops a fairer deal gogeta also claims to give employees a better benefit. A lower commission for bike shops means they can afford to offer scheme users the same price as for a cash sale. Currently retailers often have to add a surcharge on discounted bikes to compensate for the high voucher fees, and customers often feel the retailer is being unfair.
gogeta will be increasing the scheme savings for employees, and reducing the friction associated with the surcharges which are now commonplace for traditional Cycle to Work providers.
Another key feature of gogeta is its integrated marketplace, which combines real time stock feeds from partner bike shops with Cycle to Work Scheme savings and a full application journey. This, says gogeta, makes it faster and easier to use.
Employees can browse the gogeta marketplace, find the bike of their choice in stock with relevant offers from partner bike shops, with their actual Cycle to Work costs and savings included. The employee can then apply for their voucher and the bike shop is notified they have a customer.
gogeta will offer both the classic Cycle to Work Scheme to employers as well as a Premium tier, where employers can configure the marketplace to their exact requirements, adding their own branding, content and scheme features to deliver a really engaging experience for their employees. It is here that gogeta offers something unique and value-add for employers, that Barry Scott believes will be key to gogeta’s success.
gogeta is now onboarding partner bike shops to support its launch and will be running a series of live webinars to give more details on its plans and to provide an opportunity to meet the team.
Bike retailers who wish to find out more and sign-up should visit their website here.